Hi traders! If you have followed our harmonic structure (see chart below) and have taken a long position, from a technical point of view, the pair has reached TARGET 1, at the moment we can not exclude a continuation of this rebound, but it is correct to take part of profit on these levels, and move stop loss to breakeven for the rest of position. From here, some pullbacks are possible in short term.
HARMONIC STRUCTURE IN PLAY
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評論
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Credit rating service Moody's said Wednesday that it doesn't believe the launch of bitcoin futures will hurt the creditworthiness of either CME or Cboe.
Moody's published the report earlier today, a move that comes nearly two months after the exchanges first moved to list the derivative products. The 11-page release argues that the combination of risk management controls at the two firms, as well as the nascent state of that market, reduces those risks. The report presents a combination of observations on the development of those futures markets to date, as well as an examination of the issues Moody's believes, are most pressing in this context, including the volatile price of bitcoin. That said, the report's authors say that moves to request higher margins for bitcoin futures trades helps lessen the risks.
"Bitcoin’s price volatility presents particular risk management challenges for CCPs, making it more difficult to close out a defaulting clearing member’s exposures," the firm wrote. "To manage this risk, both CME and Cboe set relatively high margins for Bitcoin futures trades to mitigate counterparty exposure, and have since upped margins from those they first presented to regulators. For now low volumes also limit potential losses to a CCP."
This also goes for brokers who are offering access to bitcoin futures, Moody's goes on to argue – even if it's not entirely clear how those margins will be adjusted in the months to come. The report names TD Ameritrade and E*Trade in particular.
"Clearing margins will remain in flux, and may rise rapidly and significantly in response to higher spot Bitcoin price volatility, and brokers will have to adhere to these changes."
評論
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Maybe later we will post some updates on intraday charts ...
@akhalifeh, It was not a coincidence that yesterday we wanted to publish an update, and your question is very interesting, but at the same time it is not easy to give an answer at the moment, we need to wait for today's closure.
soonnokta
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@SignalSwiss, very skillful.
akhalifeh
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@SignalSwiss, the one of yesterday was a small Retracement followed by breaking 10K resistance. In the night the price touched 10.3 K and after that we can see a clear RSI divergence in the hourly chart followed by drop, shall we expect a Retracement to 9.4k (0.618 fib.)? a Reversal?
EspressoDopio
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Good call. Thanks.
What do you mean with "potential rebound area"?
What time frame would that be?
Is the big downtrend channel still valid from your point of view?
bixcom
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What is possible after hit target no.2
antikseremoni
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At this point, the Google trend chart is at the lowest search level. and the btc's price is rising .. this is ridiculous and unreasonable ..
so far there had always been a bond between bitcoin and google trend. the price will continue to fall. i have no doubt..
LevRidge
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@antikseremoni, or you're looking at bullish divergence with google charts and the price of BTC... as price continues to rise interest and searches will start going up..
Meaning there is a huge leg up coming..
Younzo
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@antikseremoni, I think now its time to check google trend , as people will start to fet confused again and looking for answers about btc trend on google trend